A drop in vegetable oil prices

AMMAN—The Food and Agriculture Organization of the United Nations (FAO)’s vegetable oil price index fell by 6.6 percent in September, recording the lowest level since February 2021, according to Al-Ghad News.اضافة اعلان

Also, the international prices of palm, soy, sunflower, and rapeseed oils also declined.

The continuation of large inventories which coincided with the high seasonal production in the South East of Asia led to a decline in palm oil prices.

The high quantities of soy oil available for export in Argentina increased the supply of sunflower oil from the Black Sea region, while the low crude oil prices contributed to the decline of this sub-index (Vegetable Oil Price Index).

Also, the FAO Sugar Price Index declined by 0.7 percent in September, mainly related to good production in Brazil.

The global price index for food commodities declined for the sixth month in a row in September, with a sharp drop in vegetable oil prices, which compensates for the rise in grain prices, according to a new report issued by FAO on Friday.

The FAO Food Price Index averaged 136.3 points in September, down by 1.1 percent from its level in August, but still 5.5 percent higher than its value in 2021.

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